5,100,000 Shares in International Paper Company $IP Acquired by Hill City Capital LP

Hill City Capital LP acquired a new stake in International Paper Company (NYSE:IP - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 5,100,000 shares of the basic materials company's stock, valued at approximately $194,310,000. International Paper accounts for about 0.0% of Hill City Capital LP's holdings, making the stock its 6th biggest position. Hill City Capital LP owned 0.96% of International Paper as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of International Paper during the second quarter valued at $1,940,896,000. Bank of New York Mellon Corp bought a new stake in International Paper during the second quarter valued at approximately $689,498,000. Capital International Investors increased its holdings in International Paper by 29.4% during the 4th quarter. Capital International Investors now owns 63,413,335 shares of the basic materials company's stock worth $2,498,013,000 after purchasing an additional 14,422,616 shares during the period. Atlas FRM LLC purchased a new position in shares of International Paper during the 2nd quarter valued at approximately $374,904,000. Finally, Franklin Resources Inc. raised its holdings in International Paper by 81.6% in the fourth quarter. Franklin Resources Inc. now owns 14,832,952 shares of the basic materials company's stock valued at $584,270,000 after acquiring an additional 6,663,986 shares in the last quarter. Institutional investors and hedge funds own 81.95% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on IP shares. Seaport Research Partners restated a "buy" rating and set a $46.00 target price on shares of International Paper in a report on Wednesday, August 12th. Zacks Research upgraded International Paper from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th. Wells Fargo & Company raised their target price on International Paper from $42.00 to $46.00 and gave the company an "overweight" rating in a report on Friday, July 31st. Bank of America cut International Paper from a "buy" rating to a "neutral" rating and set a $41.00 price target on the stock. in a research report on Tuesday, July 14th. Finally, Citigroup boosted their target price on shares of International Paper from $43.00 to $48.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. Nine research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $48.75.

International Paper Price Performance

NYSE:IP traded down $0.54 during mid-day trading on Friday, reaching $39.34. The stock had a trading volume of 3,520,347 shares, compared to its average volume of 6,425,330. The stock has a market capitalization of $20.83 billion, a PE ratio of -6.03 and a beta of 0.94. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.10 and a quick ratio of 0.84. International Paper Company has a 12 month low of $29.26 and a 12 month high of $50.25. The stock has a 50-day simple moving average of $39.57 and a two-hundred day simple moving average of $37.80.

International Paper (NYSE:IP - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The basic materials company reported $0.04 earnings per share for the quarter, beating analysts' consensus estimates of ($0.04) by $0.08. The firm had revenue of $6 billion for the quarter, compared to analysts' expectations of $6.19 billion. International Paper had a negative return on equity of 1.09% and a negative net margin of 14.20%.The business's quarterly revenue was down 11.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.20 EPS. On average, equities analysts anticipate that International Paper Company will post 1.34 earnings per share for the current year.

International Paper Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be given a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date is Friday, August 14th. International Paper's dividend payout ratio (DPR) is presently -28.37%.

Insider Transactions at International Paper

In other International Paper news, CAO Holly G. Goughnour sold 3,500 shares of International Paper stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $41.96, for a total transaction of $146,860.00. Following the completion of the transaction, the chief accounting officer owned 34,248 shares in the company, valued at approximately $1,437,046.08. The trade was a 9.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP William Thomas Hamic sold 24,500 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $41.20, for a total value of $1,009,400.00. Following the completion of the transaction, the vice president directly owned 106,952 shares in the company, valued at approximately $4,406,422.40. This trade represents a 18.64% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.21% of the company's stock.

International Paper Profile

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.